WHAT WOULD DR. EVIL DO?
Recession, Depression, Housing Bubble Bust, Foreclosures, and Short-sales. I can hear it now, somewhere Dr. Evil’s sinister plot to wreck the United States’ economy is underway. But, can American ingenuity beat Dr. Evil? Without a doubt it can. See, the way I figure it, is that if Dr. Evil can try and hold the world hostage for onemilliontrillionbilliondollars, and eventually have a water filled pit with Sharks with lasers attached to their heads, then can’t we figure out a way to help ourselves? The answer, by the way is a resounding “YES”! To quote some other cartoon character, “Yes we can,” and here’s how.
First, in the spirit of Dr. Evil whose wealth building opportunities were executed by his nefarious “Number 2”, he invested in the United States. Albeit it was courtesy of lattes and mochas (sorry Starbucks), we have the same opportunity, but it rests within the heart of America. That opportunity is home ownership. Never, ever has their been a better time to purchase a home (or condo) than right now. Interest rates are at an all time low (just a couple of weeks ago, I closed a sale where the Buyer’s interest rate was.3.75%, and NO POINTS!!! Geez that’s about as cheap as money gets!
Second, with a large, large shadow inventory (those properties, whether they be distressed or not are not yet on the market for whatever reason; I tend to think of vacant foreclosed homes at this point) looming, some sellers, including banks may be willing to listen to your offers. The pundits continue to discuss the fact that home prices may fall further in 2011, but let me tell you as a front line, bag toting Realtor, that may not be so. I’m beginning to see more and more sellers lose patience with the market and rent out their homes, refinance and stay, or put some money into their homes and really dress them up. Aside of distressed properties, the “traditional” home sale inventory seems to appear that it may be heading in the opposite direction and actually may be shrinking rather than growing. Buy your home now, don’t wait. This is about as low as it’s going to get if you’re in the market for a non-distressed home!
Third, over time, the home you buy now (which by the way, I heard somewhere that home prices today are around where they were in 1996) will build value (and will do so with cheap money–low interest rates I mean). We all know that the real estate markets have ups and downs, and right now we’re down. Guess where we’re headed next………? Correct, the answer is up! Don’t be sitting on the sidelines a year or two from now wishing that you’d bought your home for $10K or $15K less. The ride on the upswing is pretty fun, don’t miss it.
If you’d like more information on home selling or home buying, please feel free to contact me at your convenience. I can be reached at: Office: 262-694-2141, Mobile: 608-770-4568, e-mail me at: . Or visit my web site at: www.peteoconnor.com.
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Pete O’Connor
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